30 year fixed rate mortgages, the most popular choice among home shoppers, has been below 4 percent every week this year except for one and as of today the rates have almost reached 3%

15 year fixed rate mortgages, which tend to be more popular among refinances has remained in the high 2% range for some time now since May of this year.

The following average mortgage rates for the week ending Sept. 13:

Purchasing or refinancing a home today in California is a very smart move. We have a very strong and healthy economy in this state, with the rates as low as they have been for quit sometime now, you need to explore the option to purchase a home and explore the option to refinance your home in a short term like a 15 year so that you will save thousand of dollars on the interest over the life of the loan.

To see how much you can afford on a monthly payment go http://www.nathanrufty.com/MortgageCalculators and lets get started on your pre-approval process right away.